Freshfields Bruckhaus Deringer
Freshfields Bruckhaus Deringer (hereinafter Freshfields) leased approximately 8,000 sqm of lettable office space and 82 parking spaces at Strawinskylaan 10 in Amsterdam that would expire in 2017.
Freshfields expressed its intention to use the upcoming expiration of the lease agreement to review the current housing, including commercial conditions. Freshfields wanted to identify what the financial consequences would be for the various housing scenarios in order to make a considered decision for a lasting and sustainable implementation of its
housing in the future.
Freshfields has asked Cushman & Wakefield to assist them in determining the right strategy and the implementation of this project in order to optimise the results.
- The intrinsic motives and objectives of Freshfields are aligned prior to the project;
- Current housing is analysed and their current contractual obligations / consequences are made transparent;
- On the basis of scenario planning a clear strategy and process structure is formulated;
- A detailed market research has been done based on the defined strategy and the program of requirements;
- Parallel negotiations started and by using modeling we identified what the optimal quantitative and qualitative limits were.
- Conditions are laid down in an LOI and legal due diligence has been coordinated and a correct determination of commercial agreements has been monitored.
- Substantial savings has been realised compared to the current housing costs;
- Tenant friendly lease agreement (ROZ model) has been negotiated;
- bligations regarding maintenance of the leased property has been established in consultation with landlord;
- The process is completed in approximately eight months, a short time for a project of such magnitude.